AIZ Share Price History
08 Jul, 2020
Fareportal has joined the UATP Network and is the first OTA to issue UATP accounts. The partnership allows for reduced distribution costs using the airlines' own lower cost form of payment, UATP. Fareportal is active with live accounts.
07 Jul, 2020
Data from the American Petroleum Institute industry group at 20:30 GMT on Tuesday is expected to show a 100,000 barrel rise in gasoline stockpiles.
04 Jul, 2020
If you want to know who really controls Air New Zealand Limited (NZSE:AIR), then you'll have to look at the makeup of...
17 Jun, 2020
UATP is pleased to enter a strategic partnership with Skål International USA effective immediately. The partnership will support their common goal of enriching the travel industry via available products and uniting the travel and tourism industry.
08 Jun, 2020
Greg Foran laid out an 800-day plan to customers and staff under which the national flag carrier will look at how to further cut labour costs, including leave without pay, reduced hours or possibly laying off more people. "We must first survive, then revive and finally thrive," Foran said in an email to staff and customers, as he forecast revenue for the next financial year to more than halve from recent levels.
04 Jun, 2020
Australia's Qantas Airways Ltd and Air New Zealand Ltd on Thursday outlined plans for significant boosts to domestic capacity as pandemic-related travel restrictions ease, sending their shares higher. Qantas said it would lift domestic capacity to 15% of pre-pandemic levels by the end of June, up from 5% now. The airline said more flights are likely in July depending on travel demand and further opening of state borders, with the ability to increase to up to 40% of pre-crisis capacity by the end of July.
26 May, 2020
Air New Zealand Ltd said on Tuesday it would report an underlying loss in the financial year ending June 30 due to the coronavirus outbreak, but had slashed costs to the extent it had not yet needed to draw down a government loan. The airline has cut 30% of its staff, or 4,000 employees, and will ground its fleet of 16 Boeing Co 777 widebody planes until at least the end of December. "We are preparing for a scenario in which the airline is still 30% smaller than pre-COVID levels in two years' time," Chief Financial Officer Jeff McDowall said in a statement.
12 May, 2020
(Bloomberg Opinion) -- What do you get for the airline magnate who has everything? If he knows what’s best for him, the answer isn’t “another airline.”Rahul Bhatia, the biggest shareholder in India’s biggest carrier, InterGlobe Aviation Ltd., is evaluating data and considering a bid for Virgin Australia Holdings Ltd., a person familiar with the matter told Anurag Kotoky and Angus Whitley of Bloomberg News. He would bid via the vehicle he uses to invest in IndiGo, as India’s biggest budget airline is known, the person said.It’s not hard to see the attractions. IndiGo’s home market is fiercely competitive, with half a dozen major carriers duking it out even after Jet Airways India Ltd. was forced into bankruptcy last year. Jet was squeezed between the loss-making full-service flights offered by state-owned Air India Ltd. and IndiGo’s own devastatingly cheap fares. Australia, on the other hand, is more or less a duopoly between Virgin Australia — which was itself put into a coronavirus-induced administration last month — and a dominant Qantas Airways Ltd. That should offer the opportunity for the two carriers to cozily carve up the market between themselves.Opportunities to break into the Australian airline game don’t come along often. The last time was when Ansett Australia Ltd. collapsed just days after the Sept. 11 attacks. A fledgling Virgin Australia, at the time a budget carrier named Virgin Blue, was perfectly placed to capitalize.Despite the vast disparity in population, Australia isn’t that much smaller than India as a market, thanks to greater wealth and a higher propensity to fly. Traffic last year came to about 71 billion revenue passenger kilometers, roughly the size of the fast-growing Indian aviation market five years ago. It also has close links to India, raising the prospect that an Australian network could feed passengers via international flights into IndiGo’s domestic web of destinations. Indian-Australians make up close to 2% of the population, and the number of non-resident Indians — the subset of the diaspora who are most likely to take regular flights back to the motherland — is the largest after the U.K., U.S., Singapore, Nepal, and the Persian Gulf countries.(1)For all that, Bhatia should pass up the chance to have a crack at Virgin Australia. In its ruthless efficiency in controlling its home turf, Qantas behaves a lot like IndiGo, one reason that Australia has for a decade been a graveyard for ambitious foreign airlines. His best opportunities lie closer to home.Both Qantas and IndiGo exploit a rare and priceless phenomenon known as the S-curve, by which dominant airlines end up with more connections and a greater share of traffic the more planes they add. That makes life extremely difficult for competitors.Singapore’s attempt to set up a bridgehead via an outpost of its budget carrier Tiger Airways Holdings Pte. ended up being sold to Virgin Australia back in 2014 at a valuation of A$2.50 ($1.62), after years of struggle. AirAsia Group Bhd. showed fitful interest in establishing a bigger presence Down Under, but ended up mostly steering clear.Virgin Australia itself spent years trying to break the Flying Kangaroo’s dominance with the backing of strategic overseas players. Ordinary shareholders hold less than 10% of the now-worthless stock, with the balance being held by a rotating cast of carriers including Etihad Airways PJSC, Singapore Airlines Ltd., Hainan Airlines Holding Co., Qingdao Airlines, Air New Zealand Ltd., and Richard Branson’s Virgin Group itself. Their indifference to profits enabled Virgin to compete against Qantas for longer than many would have thought possible, but it hasn’t been enough to win the battle.The distance between Australia and India is too great to make connecting the two markets an easy play, too. IndiGo’s aircraft of choice is the Airbus SE A320neo, which some budget carriers have been using to open up longer-range routes — but it would be operating at its limits even on flights between India and Perth, which is a long way from Australia’s more populous east coast. That would necessitate Bhatia either using an unfriendly hub airport in Southeast Asia, or investing in bigger, more expensive twin-aisle jets.IndiGo is so powerful in its home market that it’s natural its owners should be looking at overseas expansion — but as we’ve argued, the better place for that is in the Persian Gulf, where a far bigger Indian diaspora is closer to home and largely flown across the Arabian Sea on Gulf carriers such as Emirates.With a pandemic-induced passenger drought threatening most non-state-backed players in the global aviation market, this is no time for Bhatia to go planting seeds in Australia’s barren soil.(1) India also counts foreign citizens with Indian ancestry as "Persons of Indian Origin" but they're as a group probably less likely to travel to the subcontinent frequently.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
08 May, 2020
Air New Zealand Ltd said on Friday it would boost domestic capacity to 20% of usual levels once the country further loosens pandemic restrictions, but it cannot offer its lowest fares due to social distancing requirements. New Zealand will decide on Monday whether to lower its alert level to 2 from 3, which would allow for the return of non-essential domestic travel as the country, which currently has relatively few COVID-19 cases, eases its lockdown. Air New Zealand said, at level 2, it would operate to majority of domestic airports, but social distancing measures meant it could sell just under 50% of the seats on its turboprops and 65% on an Airbus SE A320.
21 Apr, 2020
Virgin Australia's entry into administration could give any successful bidder for the country's second-biggest airline the chance to free it from a complex ownership structure that has slowed decision making and been blamed for years of losses. Hit hard by the fallout from the coronavirus pandemic, Virgin appointed an administrator on Tuesday to try to sell the airline and more than 10 parties have expressed an interested in recapitalising it. Its losses are largely down to its international and budget divisions and efforts to turn the airline around have been often stymied by a board that includes representatives from the five foreign investors who control more than 90% of the company.
31 Mar, 2020
Air France-KLM said on March 16 it would park its biggest airliners and slash services by up to 90%. Air New Zealand said on March 16 it would cut long-haul capacity by 85% in the coming months and the domestic network by 30% in April and May. The airline has withdrawn its full-year outlook, frozen hiring and offered unpaid leave to staff.
SYDNEY/BENGALURU (Reuters) - Major global airlines projected layoffs, furloughs and capacity cuts over the next few months, with Air New Zealand on Tuesday warning it expected staffing levels to be 30% lower than it is now, due to the coronavirus pandemic. Airlines have been rushing to shore up liquidity, reduce capital expenditure and cut costs to stay afloat amid the worst crisis to hit the global aviation industry. Data firm OAG said the aviation industry was less than half the size it was in mid-January due to the rapid capacity cuts implemented by airlines around the world.
30 Mar, 2020
The national carrier, which employs 12,500 people, said the announced number of layoffs was a "conservative" assumption, and that it could rise if the domestic lockdown and border restrictions were extended. Large scale layoffs of its global staff will start this week, the company said. "Unfortunately, COVID-19 has seen us go from having revenue of NZ$5.8 billion to what is shaping up to be less than NZ$500 million annually based on the current booking patterns we are seeing," Chief Executive Officer Greg Foran said in an email to staff and customers.
26 Mar, 2020
DUBAI/SINGAPORE (Reuters) - Global airlines urged the world's major economies to act quickly to prevent irreversible damage to an industry that has seen demand decimated almost overnight by the coronavirus crisis. Several states have already stepped in to help airlines hammered by the travel slump, with the United States offering $58 billion in aid, Singapore announcing support for aviation and Australia easing competition rules. As leaders from the Group of 20 nations met for a video summit, the International Air Transport Association (IATA) asked governments to provide or facilitate financial support for the major carriers it represents.
20 Mar, 2020
Budget carrier Norwegian Air may struggle to meet the tough conditions set by the government as part of its financial aid, raising fresh doubts about its liquidity as coronavirus inflicts more financial pain on the airline sector. Half of that would go to Norwegian Air provided that it could convince commercial lenders to supply a further 30 million crowns for an initial guarantee of 300 million. DNB Markets analyst Ole Martin Westgaard said in a note the package was likely too small, calculating that it would only cover the total cost of grounding all Norwegian Air aircraft for one-and-a-half months.